article The Term Trade.

The work is to be 6 pages with three to five sources, with in-text citations and a reference page. The customer or buyers are the final consumers of any product. External trade, also known as a foreign trade, occurs outside the countries i.e., between all the countries of the world. The buying and selling of products on the international basis are called importing and exporting. External trading is done in numerous ways including trading by land, air or by water which is also known as maritime trading.

The history of shipping dates back to the Phoenician merchants who used to transport goods across the Mediterranean. Apart from them the Venetian also had a huge number of merchant ships dating from 1300 AD to 1500 AD. The Dutch also had a huge shipping convoy from 1600 AD to 1650 AD. the merchants dominated the shipping business till the nineteenth century. The first common freight carrier service was launched by the name of James Monroe in 1818. However the launch of the Suez Canal brought a boom in the shipping industry because it improved trade between Europe and Asia, the first nuclear-powered cargo, and passenger ship called the ‘savannah’ was launched in 1960, however the container shipping sector started to expand during the 1970’s and 80’s and Hong Kong became the largest container port in 1989. The sea was always used as a way to move from one place to another and later it became a method to transport cargo to the world as mentioned above. As the industry started to flourish people started to spend their income on an adventurous endeavor such as exploring the sea with the help of passenger ships. The first shipping company to offer a passenger ship service was the Black Ball in 1818 which started operating from New York. After this, trade got mixed with leisure and more and more ships as luxurious as the Titanic came into demand because of their demand, however, Titanic is a bad example to state.

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